Quebec starts Canada's first carbon tax

Quebec introduces carbon tax, Canada CEOs urge more | Markets | Reuters.co.uk

Quebec province slapped the country's first carbon tax on energy firms on Monday, as Canadian business leaders urged "environmental taxation" to rein in greenhouse-gas emissions.

The tax, proposed more than a year ago, is expected to raise C$200 million ($202 million) a year to fund the province's plans to reduce emissions.

It includes a per-litre levy of 0.8 Canadian cent for gasoline, 0.9 Canadian cent for diesel fuel, 0.96 Canadian cent for light heating oil, and C$8 a tonne for coal.

It wasn't immediately known whether the oil companies, including Petro-Canada (PCA.TO: Quote, Profile , Research) and Imperial Oil (IMO.TO: Quote, Profile , Research), would pass along the cost to consumers.

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